The global blood collection market is expected to account for USD 8.10
Billion in 2017 and is expected to grow at a CAGR of 5.5% to reach USD
10.59 Billion by 2022.

The increasing prevalence of various diseases, rising number of
surgeries, and growing number of accidental and trauma cases are fueling
the demand for blood collection products. However, the high cost
associated with automated blood collection devices is expected to
restrain market growth to a certain extent.

On the basis of product, the market is broadly segmented into blood
collection tube, needles and syringes, blood bags, blood collection
device, and lancets. During the forecast period, blood collection
devices segment is expected to grow at the highest CAGR. Growth in the
blood collection devices segment is driven by the growing prevalence of
blood disorders, increasing demand for plasma from biopharmaceutical
companies for plasma fractionation, and rising demand for apheresis &
whole blood collection devices in blood banks in emerging countries.

By method, the market is classified into manual blood collection and
automated blood collection. The automated blood collection segment is
expected to register the highest CAGR during the forecast period. Growth
in this segment is attributed to the increasing demand for safer
procedures to withdraw and separate blood components for transfusion;
availability of advanced blood collecting products; and the rising
demand for plasma by biopharmaceutical companies.